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$7,054,000
89 Days Online

16925 Prairie Avenue
Torrance, CA 90504

For Sale|Multi-Family|Active
County:
Los Angeles
Listed by Manny Nunez JD of CB Richard Ellis, Inc.

Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.

16925 Prairie Avenue16925 Prairie Avenue16925 Prairie Avenue16925 Prairie Avenue
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We are pleased to present present for sale, The Torrance 27, a unique 27-unit Investment opportunity located in the City of Torrance within the highly coveted and business friendly South Bay. 16925 Prairie is conveniently located minutes from Los Angeles' most beautiful beaches: 4.5 miles to Manhattan Beach, and 4 miles to Hermosa Beach. Torrance is one of LA County's most business-friendly cities, with top rated municipal services, no gross receipts tax, and more. Vacancies in the South Bay are on average below metro Los Angeles with a vacancy rate at 2.8%, well below the 4.3% average. Sales volume during the past year, $592M, is in line with historical averages. The local economy is driven by its long ties to the aerospace, automotive, and energy sectors. Average household income in The City of Torrance is $126,654. The Torrance 27 presents investors a unique opportunity to acquire an asset with an assumable Freddie Mac loan at 2.95% (Please contact Broker for more information). Further, 93% of the income is government subsidized creating a uniquely stable asset for any investors portfolio. We imagine a new investor may extract further value from the building by implementing RUBS and increasing NOI. The City of Torrance is not rent controlled which gives investors more freedom to grow NOI in a high demand rental market. Please contact listing agent for more details.

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Listing Snapshot
Price 
$7,054,000
Days Online 
89 Days
Bedrooms 
N/A
Inside Area (SqFt) 
10,626 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.35 Acres
Year Built 
1964
MLS Number 
21100265
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
2 months agoListing updated with changes from the MLS
3 months agoListing first seen online
General Features
Construction 
Stucco
Parking 
Controlled EntrancePrivate
Parking Spaces 
27
Number of Stories 
3
Acreage 
0.35
Security 
Gated Community
Attached Garage 
No
Zoning 
TOCC-GEN
Listing Conditions 
Standard
Property Condition 
Updated Remodeled
Interior Features
Cooling 
None
Heating 
Wall Furnace
Flooring 
Laminate
Laundry Features 
Common Area
Fireplace 
No
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Exterior Features
Roof 
CompositionShingle
Spa 
No
Waterfront Property 
No
Community Features
Association Dues 
0
Community Features 
Gated
MLS Area 
132 - N Torrance - West
Security Features 
Gated Community


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
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